Megaworld Corp., through its subsidiary GlobalEstate Resorts Inc., will develop a 117-hectare integrated lifestyle community in Cagayan de Oro City, a multi-year project that will cost the listed property developer billions of pesos to complete.
Called The Upper Central, Megaworld envisions that development as a premier township offering a blend of residential, commercial, and recreational spaces with breathtaking views of Macajalar Bay and the Malasag Mountain Range. It will also include extensive green spaces, with 40 percent of the entire township dedicated to parks, landscaped open areas, and roads.
“We envision The Upper Central as a new lifestyle district that will transform this part of Cagayan de Oro into a vibrant community,” said Monica T. Salomon, president of GERI. The township’s strategic location is a major advantage, as it is just 10 to 15 minutes away from the city’s downtown and less than an hour from Laguindingan International Airport, the main gateway to Northern Mindanao.
The initial investment for The Upper Central will total P5 billion, with plans to complete the development over the next decade. The project aligns with Cagayan de Oro’s growing economic prominence, with the city ranked as the second richest outside Metro Manila and the third largest urban economy in the Philippines by Oxford Economics.
Kevin L. Tan, president and chief executive officer of Megaworld’s parent company, Alliance Global Group Inc., said now is the perfect time to invest in the region. “This project will have a lasting impact on the local economy and the community,” he said.
